StdForex

Overview of StdForex

Standard Forex (STDForex), managed by Standard Markets Pty Ltd in Australia, has raised concerns regarding its legitimacy. Despite asserting possession of a Common Financial Service License under the United States National Futures Association (NFA), doubts exist about its authenticity. This ambiguity is compounded by 34 recent complaints on WikiFX in the past three months, casting shadows over its credibility and integrity. Traders are advised to exercise vigilance due to potential risks linked to the broker.

StdForex offers an array of trading instruments. Its currency pairs encompass major, minor, and exotic options, such as EUR/USD, USD/JPY, and EUR/TRY. Stock indices like S&P 500, Dow Jones, and FTSE 100 are available, as are commodities like oil and gold. Cryptocurrencies, including Bitcoin and Ethereum, are part of their offerings. The brokerage also features a range of account types, each with distinct features. These include the Standard Cent Account with a minimum deposit of $1, the Pro Account designed for experienced traders, and the Raw Spread Account for substantial investments. The broker also provides an Islamic Account for swap-free trading and a Demo Account for practice.

Leverage varies across account types, with Standard Cent and Demo Accounts offering the highest leverage. Spreads differ based on account types, with raw spreads available in the Raw Spread Account. Commissions vary from $2 to $3 per lot. Customer reviews on WikiFX highlight concerns about withdrawal issues and customer service. Traders have reported difficulties in withdrawing profits and dissatisfaction with the support team's responsiveness. These reviews indicate a lack of trust in the broker's withdrawal processes and customer assistance.

Pros and Cons

StdForex offers several advantages and drawbacks worth considering. On the positive side, the platform provides an array of cryptocurrencies and account types, catering to diverse trading preferences. It also offers leverage options suitable for various traders and multiple deposit and withdrawal methods. The availability of the MetaTrader 4 trading platform and a practice-oriented demo account further enhances its offerings. However, caution is warranted due to suspicions of it being a clone and the lack of clear and valid regulation. The broker has also faced numerous complaints in the past three months, and its main website is currently unavailable. Additionally, the customer support channels are limited, and no educational resources are mentioned.

Is StdForex Legit？

Standard Forex (STDForex) is currently under suspicion for being a clone and lacking valid regulation. Despite claiming a Common Financial Service License under the United States National Futures Association (NFA) with license number 0510053, there is uncertainty surrounding the authenticity of this claim. As a result, there are potential risks associated with trading through this broker. Within the past three months, WikiFX has received 34 complaints about STDForex, further raising concerns about its legitimacy and potential fraudulent activities. It is advised to exercise caution and be aware of the potential risks and scams associated with this broker.

Market Instruments

CURRENCIES

StdForex offers a wide range of currency pairs, including major, minor, and exotic pairs. Some examples of major currency pairs are EUR/USD, USD/JPY, and GBP/USD. Some examples of minor currency pairs are AUD/USD, NZD/USD, and USD/CAD. Some examples of exotic currency pairs are EUR/TRY, USD/RUB, and GBP/ZAR.

INDICES

StdForex also offers a number of stock indices, such as the S&P 500, the Dow Jones Industrial Average, and the Nasdaq 100. Some examples of stock indices are the FTSE 100, the DAX 30, and the Nikkei 225.

COMMODITIES

StdForex offers a variety of commodities, such as oil, gold, and silver. Some examples of commodities are wheat, corn, and soybeans.

CRYPTOCURRENCIES

StdForex also offers a number of cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. Some examples of cryptocurrencies are Bitcoin Cash, Ripple, and EOS.

Account Types

Standard Cent Account: This account type requires a minimum deposit of $1 and operates in USD. It offers leverage of up to 1:3000, with spreads starting from 0.3 pips. The account is swap-free.

Standard Account: With a minimum deposit of $10 and denominated in USD, this account provides leverage of up to 1:3000. Spread begins from 0.1 pips, and there is a commission of $2 per lot traded.

Pro Account: Geared towards more experienced traders, the Pro Account necessitates a minimum deposit of $1000 in USD. Leverage reaches up to 1:500, and spreads start from 0.0 pips. Traders using this account pay a commission of $1 per lot.

Raw Spread Account: Designed for larger investments, the Raw Spread Account mandates a minimum deposit of $5000 in USD. Leverage of up to 1:500 is available, and this account features raw spreads. A commission of $3 per lot is applied.

Islamic Account: Tailored for traders seeking swap-free trading, the Islamic Account requires a minimum deposit of $100 in USD. Leverage can go up to 1:300, spreads start from 0.1 pips, and it is commission-free.

Demo Account: This account type is provided free of charge for practice purposes. Denominated in USD, it offers leverage up to 1:3000, with spreads beginning from 0.1 pips. A commission of $2 per lot is simulated in this account.

Leverage

The leverage ranges from up to 1:3000 for Standard Cent and Demo Accounts, up to 1:300 for Islamic Account, and up to 1:500 for Pro and Raw Spread Accounts.

Spreads & Commissions

StdForex's spreads vary by account type, ranging from 0.3 to 0.1 pips for Standard Cent and Standard Accounts, starting from 0.0 pips for the Pro Account, and raw spreads for the Raw Spread Account. Commissions range from $2 to $3 per lot, except for the Islamic Account which is commission-free. The Demo Account simulates a $2 per lot commission.

Minimum Deposit

StdForex offers a variety of account types with minimum deposits ranging from $1 to $5000, accommodating diverse trading preferences and investment levels.

Deposit & Withdrawal

StdForex offers a variety of deposit and withdrawal methods, including bank transfer, credit/debit card, e-wallets, and cryptocurrencies. The processing times for withdrawals are generally 1-3 business day.

Trading Platforms

StdForex offers the MetaTrader 4 trading platform for Windows, providing traders with a widely recognized and utilized platform for their trading activities.

Customer Support

Customer Support at StdForex can be reached through their English hotline at +61 7 3303 0159, as well as their Chinese (Simplified) line at 61 7 3303 0159. Alternative contact methods include QQ at 800146701 and email at support@stdforex.com.

Reviews

Reviews of StdForex on WikiFX highlight numerous issues related to withdrawal and customer service. Clients reported being unable to withdraw their profits despite meeting trading conditions. There are allegations of account blocking, blacklisting, and unresponsiveness from the customer support team. Some reviewers mentioned that the platform required various documents and kept changing withdrawal requirements, leading to frustration and suspicion of fraudulent activities. Overall, the reviews express distrust and dissatisfaction with StdForex's withdrawal procedures and customer service practices.

Conclusion

In conclusion, StdForex presents a mixed picture of potential advantages and disadvantages. While offering a diverse range of market instruments and account types to accommodate different trading preferences, there are concerning elements that merit caution. The legitimacy of StdForex is currently under suspicion due to questions surrounding its regulatory status and reported fraudulent activities. Reviews from users highlight issues related to withdrawal procedures and customer service, casting doubt on the reliability of the broker. As such, prospective traders are advised to exercise vigilance and carefully consider the potential risks before engaging with StdForex.

FAQs

Q: Is StdForex a legitimate broker？

A: StdForex is currently suspected of being a clone and lacking valid regulation, raising concerns about its legitimacy.

Q: What trading instruments does StdForex offer？

A: StdForex provides a range of instruments including currencies, indices, commodities, and cryptocurrencies.

Q: What are the account types offered by StdForex？

A: StdForex offers various account types, including Standard Cent, Standard, Pro, Raw Spread, Islamic, and Demo accounts.

Q: What is the leverage offered by StdForex？

A: Leverage varies by account type, with a maximum of up to 1:3000 for some accounts and up to 1:500 for others.

Q: How are deposits and withdrawals handled at StdForex？

A: StdForex supports multiple deposit and withdrawal methods, including bank transfers, cards, e-wallets, and cryptocurrencies.

Q: What trading platform does StdForex provide？

A: StdForex offers the MetaTrader 4 platform for Windows, a widely recognized trading platform.

Q: How can I contact StdForex customer support？

A: You can reach StdForex customer support through their hotline, QQ, and email.

Q: What do reviews say about StdForex？

A: Reviews on WikiFX highlight issues with withdrawal and customer service, expressing distrust and dissatisfaction.

Q: Is the Standard Markets Pty Ltd a reliable company？

A: Standard Markets Pty Ltd, operating as StdForex, currently raises concerns about legitimacy and regulation.

Q: Can I trade cryptocurrencies with StdForex？

A: Yes, StdForex offers a selection of cryptocurrencies for trading, including Bitcoin, Ethereum, and Litecoin.

Q: Is the MetaTrader 4 platform available for trading with StdForex？

A: Yes, StdForex provides the MetaTrader 4 platform for Windows users.

Q: What is the minimum deposit required to open an account with StdForex？

A: StdForex offers various account types with minimum deposits ranging from $1 to $5000.